Stroeer up on Q2 beat, sees 'promising' Q3 sales

Stroeer SE & Co KGaA

11/08/2022 08:37

** Stroeer  SAXG.DE  shares rise 9% after the German
advertising company reported second-quarter results above
estimates and gave upbeat Q3 guidance  urn:newsml:reuters.com:*:nFWN2ZMBUR
    ** The Cologne-based firm reports Q2 adjusted EBITDA of EUR
125.7 mln ($129.6 mln), 2% above consensus cited by JPMorgan,
and 7% above the broker's own estimates
    ** Stroeer further forecasts medium-single-digit sales
growth for Q3
    ** "Stroeer Q222 better than expected on 1st sight, expects
promising Q322 due to healthy order book," a local trader says
    ** Stroeer shares top the German mid-cap index  .MDAXI  and
are on track for a best day since November 2020

($1 = 0.9698 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))